System and method for estimating forward retail commodity price within a geographic boundary
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United States of America Patent
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Sep 13, 2011
Grant Date -
Dec 18, 2008
app pub date -
Feb 12, 2008
filing date -
Feb 12, 2007
priority date (Note) -
Expired
status (Latency Note)
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Abstract
Embodiments disclosed herein provide a new way to generate estimated forward retail prices for a retail commodity within a geographic boundary that represents a target market. Using estimates for local retail prices, combined with knowledge of current and historical wholesale prices, embodiments disclosed herein enable the creation of a forward estimate of retail prices on fuels for a specific location, time period, and fuel grade. In some embodiment, the process of creating a forward estimate of retail prices on fuels comprises performing a predictive modeling utilizing wholesale gasoline prices, rack markup, retail markup, and taxes on a location, time period, and fuel grade basis. In some cases, the estimated forward retail prices thus generated can be used in a pricing model for price protection services for that retail commodity in that target market.
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